NEW YORK, Jan. 14, 2016 /PRNewswire/ -- The automotive suspension system market is anticipated to see a considerable growth in countries such as China, India, Mexico, and Spain. Due to the stringent emission regulations and fuel efficiency standards enforced by the different legislative bodies across the globe, therefore it has forced all the OEMS to look for altered solutions to achieve the same. Thus, the semi-active/active systems were developed, which are lighter in weight, smaller in size, and high on performance, and driving the demand for advanced automotive suspension systems.
This report, segments the automotive suspension system market into following types: Automotive suspension system market by vehicle type (Passenger car, LCV, and HCV), by geography (North America, Asia-Oceania, Europe and ROW), by system type (passive and semi-active/active system), by damping (hydraulically/pneumatically and electromagnetically) and by architecture (dependent and semi-independent/independent) which is further classified as Macpherson Strut and Double Wishbone. The key players in the market have also been identified and profiled.
This report classifies and defines the global automotive suspension system market size, in terms of volume and value. Market size, in terms of volume, is provided in thousand units from 2013 to 2020, while the market size by value is provided in terms of USD Million.
North America is estimated to grow at a highest CAGR of 6.03% by volume over the projected period from 2015 to 2020.
The market is anticipated to grow due to various reasons such as, the growing vehicle production specifically passenger cars, gradual narrowing of vehicle emission levels, and increasing use of personal vehicles for daily activities in emerging economies is expected to grow the demand for these suspension systems in foreseeable future.
The report also provides a comprehensive review of market drivers, restraints, opportunities, challenges, and key issues in the global automotive suspension system market.
Apart from analyzing the quantitative aspects of these markets, the report also covers qualitative aspects, such as value chain analysis, and Porter's five force analysis for the global automotive suspension system market.
The automotive suspension system market is dominated by a few major players such as, ZF Friedrichshafen AG (Germany), Tenecco Inc. (U.S), KYB Co. Ltd (Japan), Continental AG (Germany) and Magneti Marelli S.p.A (Italy).The key strategies adopted by these key market players are geographic expansion, mergers & acquisitions, and new product development.
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